LIFESUPPLY ANNOUNCES ACQUISITION OF MEDICAL SUPPLIES DISTRIBUTOR "SMART MOVE MEDICAL"
/NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES/
VANCOUVER, BC, April 1, 2022 /CNW/ - Lifesupply Health Supplies Inc. (the "Company" or "Lifesupply"), an national online retailer of medical, health and safety products, is pleased to announce it has acquired all of the assets of 1230037 B.C. Ltd. doing business as Smart Move Medical ("Smart Move").
Smart Move is an importer and distributor of approximately 1,000 durable health and medical products from several different manufacturers in Asia, ranging from power wheelchairs, and mobility scooters to long term care beds. The company distributes the products under their own brand "Smart Move Medical", focusing on innovation, functionality and value as well as promoting independence and improving the quality of life for the individuals that use them.
Lifesupply has acquired all of the inventory, IP and other assets owned by Smart Move. The Company intends to engage Smart Move's founder to lead Lifesupply's wholly owned subsidiary Meddirect Distribution Corp.
Smart Move's customer base currently consists of pharmacies, wholesalers and distributors. The company markets its products through an Amazon storefront and the website smartmovemedical.com. By leveraging Lifesupply's experience and capital, future growth is anticipated through expansion into other provinces and by adding major distributors to its customer base.
"This acquisition enhances our distribution arm, providing Lifesupply with access to a broader network of suppliers and products internationally." said Abdul Ladha, CEO of Lifesupply. "It is the next step on our path of growth through accretive acquisitions, and we see Smart Move as a seamless addition to the Lifesupply platform. The acquisition is expected to have an immediate positive impact on our margins and our ability to access new products."
Lifesupply, is engaged in the business of the marketing and sale of medical, health and safety products, and related services. The Company operates various online sites, including "lifesupply.com" and "lifesupply.ca", that provide consumers access to over 50,000 products (SKU's) of health and medical products.
The Company has over a decade of experience in the medical supplies industry and an outstanding team of founding investors that form the basis of its operations. Lifesupply's objective it to grow organically and through acquisition, with the goal of establishing the company as one of the largest suppliers of medical, health and safety related products in the country.
Lifesupply plans to further expand through acquisition by acquiring profitable operations that complement the Company's business model. The Company plans to integrate those operations into its existing operations, enabling it to offer a broader scope of inventory, products and services to its customer base.
This release and prior releases are available on the Company's web site located at www.lifesupplyhealth.com.
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements related to the Company's growth strategy, business objectives and goals, the expansion of its e-commerce offering, the broadening of the Company's portfolio of products, the Company making accretive acquisitions and that those acquisitions leading to growth in the B2C and B2B channels, the Company broadening their medical and healthcare offerings, the efficient delivery of products, and the Company's anticipated presence in the Canadian wholesale market are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur".
Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will be able to execute on its business objective and goals, that the business will continue to grow as anticipated, that the Company will be able to identify and acquire appropriate target companies to grow its business, identify and offer additional healthcare products, and more effectively leverage its technology and distribution network for deliveries.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, general business and economic conditions in the regions in which the Company operates, that the Company will not be able to find suitable acquisitions to grow its B2B and B2C channels, that the Company will not be able to find appropriate products to expand its healthcare offerings, and that the Company will be unable to streamline its technology and distribution network to make deliveries quicker, more reliable and cost effective.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement or forward-looking information, except in accordance with applicable securities laws.
SOURCE Lifesupply Health Supplies Inc.
Investor Relations, [email protected], 1 (833) 811-LIFE (5433), (Visit www.lifesupplyhealth.com)
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